The tenant's are moving out this summer and I'll be looking for new tenants, however, I'd like to rent out my unit to mid-term tenants while I'm away traveling for months at a time.

@Rob WallaceCredit unions typically do not lend to LLC’s I will focus on another topic - I strongly recommend your operating agreement have terms preset if things personally go bad and one has to buy the other out.

This is for a long term hold for at least the next 10 years.

Having a separate account to hold security deposits is a good idea.Having another account for business operations is also a good idea.There is zero risk in opening a bank account and it doesn't take that long so you can do it now or do it later.Good luck

If the constant turn-over bothers you, but you like the idea of rental income - maybe the long term rental is the way to go.  

I'm not an attorney so please consult one in your state to make your decisions.You could propose they master lease the property as a trial period BEFORE you agree to purchase terms which would transfer title. 

He can take a short term bridge up to 75% LTV, payoff the existing loan plus get 22k to fix the foundation up, then sell it at full value.

I'm a contractor, I'd be self performing most of the work.I wonder when more comps will come up for the ADU values.Most people in my area build ADUs for extended family, so I don't see it happening anytime soon.

So, here at the 6 month check in, here are the things I've been doing since January 2024: *Anchored everything to my WHY, including the motivations and long-term strategy *Joined a local REI group hosted by my church*Researched tax lien investing in Harford County, MD and decided to not play in that space this year*Read a few REI books (Rich Dad Poor Dad, One Rental At A Time, Building Wealth One House at a Time, Wealth Without Cash, Building Real Estate Wealth in a Changing Market)*Subscribed to a bunch of good YouTube channels (BP, ORAAT, Ken McElroy, Coach Carson...)

Purchase a property using personal name can get a better rate and loan terms such as conventional loan.